Shops and Lofts at 47th – Bronzeville
More building permits were given out in October 2013 than in any other month during the
past five years! This is a great sign for the real estate market. Hopefully this
momentum will carry over into 2014.
This spike in building permits is being driven by the demand for multi-family housing.
Permits for multifamily units surged 15 percent in October 2013. I suspect that the
multi-family or apartment building segment will be the fastest growing segment of real
estate for the next several years.
It is also interesting to note that according to the respected Case-Schiller index,
Chicago Home prices are also up. The year over year change in single family home prices
in Chicago is almost 8%.
So things are looking up for the Chicago Real Estate market!
If you have any questions about the Chicago Real Estate market,
please feel free to send me a note: mark@markkillion.com
Until the next time,
Mark Killion
Kale Realty
542 W. Roosevelt Rd
Chicago, IL 60607
Visit me online: www.773property.com
EQUAL HOUSING OPPORTUNITY
